FRHI Appoints Martin Kandrac as EVP Real Estate & Development

FRHI Hotels & Resorts has appointed Martin Kandrac as Executive Vice President, Real Estate & Development.

Based in Zurich, Kandrac will be responsible for all aspects of FRHI’s real estate and development activity worldwide, including regional offices in the Americas, Europe, Asia, and the Middle East.

As part of this role, Kandrac will also have oversight of FRHI's residential and design and construction teams.

Kandrac brings to his new role over 17 years of international hospitality real estate experience in the United States, Asia and Europe. He joins FRHI from his most recent position as managing director, real estate in the London office of Mount Kellett Capital Management. Prior to this, Kandrac spent 12 years with Blackstone Real Estate as head of European Hotels. He also held progressive positions with Goldman Sachs and Starwood Hotels & Resorts.

Kandrac is a graduate of Cornell University, School of Hotel Administration and also holds a Masters of Business Administration degree from Harvard Business School.

“I’m very pleased to be welcoming Marty to the FRHI team,” said William Fatt, chairman & chief executive officer, FRHI. “We're confident that with his extensive international experience in both real estate and portfolio acquisitions that he is the right person to lead our worldwide expansion plans moving forward. There is great growth potential for all three of our brands, through acquisitions, conversions and management agreements, and we continue to focus our development activity on key strategic markets globally.”

On track to welcome a number of new hotels in 2014, including the September 2014 opening of Raffles Istanbul, FRHI is projecting 50% growth over the next five years.